4701-4703 Ravenswood Rd - Apartments FOR SALE


Riverdale, MD 20737- Riverdale Park
$3,450,000 USD
240-444-4656
4701-4703 Ravenswood Rd, Riverdale, MD for Sale
$3,450,000 USD
Apartments - FOR SALE
1/13
null | 7.31% Cap Rate

4701-4703 Ravenswood Rd
Riverdale, MD 20737
Riverdale Park


HIGHLIGHTS

  • Unique Opportunity to Acquire a Garden Asset in Riverdale
  • Minimal Deferred Maintenance and Expertly Maintained Property
  • Less Than a 10-Minute Drive Away From the University of Maryland College Park and Washington, DC

OVERVIEW

Harbor Stone Advisors is pleased to present the unique opportunity to acquire Riverdale Station Apartments, a well-maintained garden asset located in Riverdale, MD. Located in Prince George’s County, the property is less than a mile away from The Station at Riverdale Park, a mixed-use development anchored by Prince George’s County first Whole Foods Market. Riverdale Station Apartments is also a 5 minute walk from the Riverdale MARC train station and is less than a mile away from two stops on the upcoming Purple metro line. The property features 23 units with a mix of (21) 1 Br-1 Ba and (2) 2 Br-1 Ba. Typical unit features consist of stainless steel appliances, wood cabinets, granite/white quartz countertops, and laminate/hardwood flooring. Current ownership has renovated 21 units between 2016 and 2022 and has completed numerous capital improvement projects including replacement of the roof and windows, renovation of the common areas, and exterior painting. The opportunity exists for a new owner to renovate the 2 remaining classic units and increase the legacy utility reimbursements to current rates.

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$189 USD /SF

# OF UNITS

23

PRICE/UNIT

$150,000

CAP RATE

7.31%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riverdale Station Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,557 SF

ZONING

RSF65

APN/PARCEL ID

19-2159044

ASK ABOUT THIS PROPERTY

Tom WohlgemuthHarbor Stone AdvisorsMore Info
240-444-4656

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Tom WohlgemuthHarbor Stone AdvisorsMore Info
240-444-4656

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.